Allied Gold's Papua sites in 'legally good standing'
Allied Gold Mining, the gold miner with significant interests in Papua New Guinea, says the government has confirmed two of its key licences in the country are "legally in good standing".
Allied Gold Mining, the gold miner with significant interests in Papua New Guinea, says the government has confirmed two of its key licences in the country are "legally in good standing".
The written confirmation from the Mineral Resources Authority has come in response to reports that landowners may try to replace Allied as the 100% owner of the concessions.
The reports arose from comments by some provincial and island representatives although Allied is emphasising a public statement by landowners which last week offered "continued support" to the company.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The stock has dropped 12% in the last 12 months and, in response to today's update, the shares have fallen 2% in early trading.
BS
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
The top areas for buy-to-let rental yields
Rental growth is slowing and regulations are rising but landlords can still earn a decent return from property investing.
By Marc Shoffman Published
-
Review: Cobblers Cove, Barbados – your hotel home in the Caribbean
MoneyWeek Travel Cobblers Cove is a beautiful, family-run retreat on the island of Barbados
By Chris Carter Published